What is GST Tax Returns Filing In India?

Businesses with an annual turnover of more than Rs. 40 Lakh and Rs. 20 Lakh for north-eastern and hilly states have to file GST mandatorily. They have to obtain a GSTIN, a 15-digit alphanumeric code required for filing returns. There are various goods and service tax forms that taxpayers have to fill depending on their income. Entities with an annual turnover of up to Rs. … Continue reading What is GST Tax Returns Filing In India?

What are the Pros and Cons of GST for MSMEs in Indian Budget 2019?

Goods and Services Tax (GST) has been one of the major reforms in India. This tax has levied many indirect taxes on various Micro, Small and Medium Enterprises (MSMEs) by State and Centre Government, including VAT, service tax and excise. However, there are both pros and cons of implying GST on MSMEs: Pros: The major advantage of GST benefits according to 2019 Interim Budget is … Continue reading What are the Pros and Cons of GST for MSMEs in Indian Budget 2019?